Condo and Housing Saga
This is a story we wanted to tell. We can’t tell it with the emotion we felt as we lived it, but we want to have it on the blog for posterity’s sake. You can use it for bedtime reading if you would like…
After Scott decided to take a job at a company rather than go to academia, we decided that we ought to start thinking about selling our condo. We spent a bit of time cleaning things up and going through our possessions. We ended up getting rid of a lot of things that we decided we really didn’t need. That felt refreshing and is another story in and of itself. We were really unsure on how to move forward in this process. We talked with a realtor (who was a friend of Scott’s) and had him come over to give us some advice on what to do about getting the condo ready to sell. Scott and I decided that we would not do any improvements (besides the master bathroom) and see if we could find someone who wanted it in its current state. We put it in the market in mid-May. A couple of weeks later (we had plenty of people coming to look at it), things weren’t working out with the realtor, so we parted ways. A friend recommended another pair of realtors, and we decided to hire them. We got our condo back on the market after “losing” just a few days. Oh, in the middle of all that we had some potential offers from friends/family that didn’t work out. Can you say roller coaster? It just gets better…
We believed that we wouldn’t be able to get a house in Texas until the condo sold, so we were looking at scenarios to find an apartment. We figured it would be nice to keep Milo in the same school even if we managed to buy a house before the school year was up. We happened to be meeting with our financial advisor and he mentioned that we could probably get a mortgage for a new house before we sold our condo. He gave us the name of mortgage guy in SLC that he knows. We talked to that mortgage guy and found that we could qualify for a mortgage and before selling the condo. We were pretty excited and started looking for houses in the Austin area.
We contacted a realtor in Austin and scheduled a house hunting trip the first part of July. Prior to our trip, we spent quite a bit of time on the Internet looking at houses and trying to decide what we liked and didn’t like. We narrowed it down to about 25 houses. We were able to look at a few the first night we arrived and then the rest the next day. Even though our heads were spinning, we narrowed it down to 5 houses and went to see those on the third day. After looking at them all, we decided on the house we wanted. Before we flew back to Utah, we put an offer in on our favorite house. After we got back to Utah, we talked to our SLC mortgage guy and began working on getting the loan documents ready.
As far as the condo was concerned, we received a contingent offer shortly before we left for our house hunting trip. The offer was contingent on the buyer selling her place and terminated on August 15th. If this fell through, we were planning on doing some improvements before we left SLC. Luckily, she decided to remove the contingency, and we didn’t have to do any improvements.
A week before we were to leave for Texas, we got a call from our SLC mortgage guy informing us that we were having problems getting the loan because Scott hadn’t started work yet. Scott started checking with the company to see what they could do about his start date. Later that week on Friday, the company gave us a name of a mortgage broker in Texas who claimed he could help us. He started the process of getting us a loan that the SLC mortgage broker told us he couldn’t get in a time frame that everyone seemed to think was VERY short (he did our loan in about a week). In the meantime, the SLC mortgage guy calls back to tell us that he was now able to fund the loan without Scott starting work. It wasn’t the most exciting decision we have had to make, but in the end we decided to work with the mortgage broker in TX.
We left for Texas on July 29. We bank with a SLC credit union and decided that we’d just have the money for closing costs wired so that we wouldn’t have to keep track of a cashier’s check. The money was wired to the title company on the 29th. On the 30th (while we were driving), we get a call from our realtor in Texas informing us that the title company we were using went out of business with no notice to anyone. The funds we had wired the day before were locked up in the escrow account. Our Texas lender told us not to worry about it, that he’d get it all taken care of. Our realtor told us to have a back up plan. Luckily, Scott’s parents had the money that we needed in case we needed to wire it. We thought all was well with the money. We would close on Friday, August 1 as we had originally intended. We thought the Sellers would be signing later on Friday and tried to figure out what we’d do until after that time. We went over to the house to do a final walk through and then went to the new title company for the closing.
When we got there, we found out that the Sellers would be there too. We also found out that the mortgage broker in TX hadn’t quite worked everything out with the missing closing costs money. His office had called and demanded that the Seller’s realtor pay all the money we had wired. When they wouldn’t agree to this they hung up and apparently neglected to tell us of this fact. They were of the opinion that the realtor should have been working on this problem. We had told our realtor that the Seller’s realtor would cover our costs and he believed us. We ended up signing the papers with the issue of the money for our closing costs still hanging in the air. It was a bit anticlimactic when we signed but couldn’t get the keys.
After the closing Scott contacted his dad and got the money rolling. An hour after the closing we received word that the money had been wired. We were now just waiting for the money to show up in the account at the title company. In the meantime we decided to take the kids to Milo’s favorite park to play in the water. The other complication was that we had scheduled the moving truck to be dropped off that afternoon. Milo & Holly had been in the water for about a 1/2 hour when we got a call that the money had been received by the title company and we could come get the keys. We got the kids out of the water and were just leaving the parking lot when we got a call from the moving truck driver telling us they were going to drop off the truck in a half hour. We knew we wouldn’t have time to go get the keys and be back for the moving truck. We decided to go over to the house and make sure the moving truck got dropped off okay.
When we pulled into the driveway we noticed the side gate to the backyard was open. We thought it was at least worth a try to see if the back door was open. Luckily, it was open. The house was technically ours, so we figured it wasn’t technically breaking and entering… We went inside and started to get things unpacked from the car while we waited for the moving truck. After the moving truck came, we went and got the keys to the house and came back.
We were really grateful that we were able to get the house even after all the problems we had with the mortgage and title company. The good news is that the old title company has released our funds in escrow. It took a couple of weeks, but we have received the check and gotten the money back to Scott’s parents.
The condo has closed. After the hassle of getting the documents signed, notarized and in a drop box, we now have the proceeds from the condo.
We are very happy that we were able to get a house in Austin and also get the condo sold. It was a lot of stress and heartache, but I think it is worth it. It sure does take a lot of effort to move…we hope we don’t have to do it again anytime soon!















